Re: Is this legal?

Posted by Archerjoelson (67.50.141.213) on July 30, 2004 at 12:19:26:

In Reply to: Is this legal? posted by Valarie on July 29, 2004 at 00:31:59:

This is legal. They write it off one year as a bad debt and receive a tax credit because they have most likely already counted it as income in their books. However, IF they ever do sue and or collect they have to call it income and pay tax on it. It is not tax free $ for them. But the trick is do they actually claim it again ??? Who knows but the system is not set up to give them tax free $. At least to my understanding.

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